SGB Update Sports & Fitness
Adidas Pulls Sneaker Dedicated To Black History Month After Backlash
Adidas announced it was pulling a shoe from its Black History Month lineup following social media uproar.
PHIT America Partners With Zift
Zift partnered with PHIT America to develop a mobile app that encourages physical activity. The app provides screen time parenting tools, as well as insights and resources to families.
USTA And Life Time Partner To Grow Tennis Participation
The United States Tennis Association (USTA) and Life Time announced an alliance to grow the sport of tennis, especially among younger players.
Purus Labs Appoints President and CEO
Purus Labs, the sports nutrition company, announced that Shawn Moe will join the Purus Labs Team as a partner and will be the new president and CEO.
Roark Capital Acquires Fitness Connection
Roark Capital, an Atlanta-based private equity firm, acquired a majority stake in Fitness Connection from LNK Partners. Fitness Connection has over 500,000 members across its 41 health clubs in Texas, North Carolina, and Nevada.
Vicis Expands Series B Funding
Vicis announced an expansion of its $30 million Series B fundraising, adding investments from quarterbacks Alex Smith and Aaron Rodgers, through Rx3 Ventures. This is the second investment in the company by both NFL quarterbacks.
Adidas Announces Multi-Year Partnership With Football Coach Dr. Jen Welter
Adidas announced a multi-year partnership with Dr. Jen Welter, the first female NFL coach and newly named Defensive Specialist Coach for the Atlanta Legends in the Alliance of American Football (AAF).
Golf Rounds Played Declines 4.8 Percent For 2018
According to Golf Datatech, golf rounds played in the U.S dropped 7.7 percent in December year-over-year while ending up down 4.8 percent for the year.
Invista Completes Sale Of Apparel & Advanced Textiles Business
Invista has completed the previously announced sale of its Apparel & Advanced Textiles business to an affiliate of Shandong Ruyi Investment Holding.
$8 Million Won By Top 10 Mobile eSports Athletes In 2018
Skillz, the worldwide leader in mobile eSports, today announced the top mobile eSports athletes of 2018. The top 10 competitors won more than $8 million in combined prizes, with 7 of the 10 rankings claimed by women. The prizes earned by this year’s winners were three times larger than that earned by 2017’s top players.
FabFitFun Raises $80 Million In Funding Round
FabFitFun, the lifestyle membership and subscription commerce company, announced that it has raised $80 million in Series A funding led by Kleiner Perkins, with participation from existing investors NEA and Upfront Ventures.
Descente’s Profits Slide In Nine Months
Descente Ltd. reported net earnings slid 26.2 percent in the nine months through December 31 as sales increased 2.0 percent.
Brunswick Corp’s Earnings Climb In Q4
Brunswick Corp. reported earnings rose 32 percent on an adjusted basis in the fourth quarter. Sales grew 5.7 percent as a 18.6 percent gain in the marine segment offset a 5.6 percent decline in the fitness segment.
Moody’s Lowers Academy’s Debt Ratings Again
Moody’s Investors Service downgraded Academy’s debt for the second time since September 2018. The downgrades reflect Moody’s expectations for continued weak earnings and credit metrics in the near term, driven by a challenging operating environment, the transition of the company’s merchandising assortment, margin pressure from the mix shift to e-commerce and investments needed to improve the store and digital experience.
Nike Responds To Controversy Over Allah-Like Design
In response to an online petition demanding Nike recall many of its Air Max 270 models because a script logo on the sole resembles the word Allah in Arabic, Nike said in a statement that it “respects all religions” and any resemblance to the word is accidental.
